The Nifty rally is likely to extend, may increase by 4% by mid -May: Axis Securities

India’s benchmark Nifty index recorded a five-day return 7.7%, triggering a technical signal that can point to more side-to-side next week. According to the domestic brokerage Pay FIRM Axis Securities, the same increase in the past has gained about 4% in the next one month.

Axis Securities analyzed market behavior following past events of more than 7.7%or more than 7.7%. The findings declared that:

• In the next 3 trading sessions, the Nifty earned an average of 1.2%, with a win rate of 80%.
• In the next 5 sessions, the average return improved by 1.9%, maintaining the same win rate.
• Most notably, after 20 days of the signal, the Nifty posted an average of 4.1% with a 100% success rate.

This historical acacical operation indicates that the Nifty can continue the rally in the near term, possibly adding another 4% by mid -May, if past patterns are true.

With the last signal seen in February 2021, this increase in the last 10 years will only mark the 11th event. This type of aggressive short -term speed, axis securities notes, produce strong current patterns, especially when supported by additional bullish indices.

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Brokerage Pay FirM has noted that with a five -day change rate, other technical indicators are also arranged in favor of the bull. Daily Ichimoku Legging Spain has now broken above the cloud resistance for the first time since the summit of September 2023, indicating an improvement in the power of trend.

Next, the MACD histogram became positive last week, adding confirmation to the current velocity shift. In a separate development, last week’s candle left the open distance with the previous week, marked the first weekly gap-up after December 2023-a signal described as “strongly boom” with the perspective of Axis Securities Price-Action Cushion.

Brokerage Pay FirM’s note further states that “Bulls in the second velocity, the last week’s candle has left the open distance with the candle weeks ago – this is the first gap -up on the weekly chart after the DEC ’23 and represents the behavior.”

However, it should be noted that past performance does not guarantee future returns, the conversion of multiple booming technical signals – in which motion, trend confirmation and price action gaps – provide an attractive background for the ongoing rally of the Nifty. Analysis of Axis Securities provides data -based cases for at least short to medium term, continuous optimism.

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